Title 57
Money and Currency
CHAPTERS
1 Currency (§ 101)
Chapter 1
Currency
SECTIONS
§ 101. Legal tender defined.
§ 101. Legal tender defined.
The legal tender of the Federated States of Micronesia shall be the coins and currencies of the United States; provided, however, no restriction shall be made on the use of local forms or barter and exchange in transactions among citizens of the Federated States of Micronesia.
Source: TT Code 1966, § 1140; TT Code 1970, 77 TTC 1201; TT Code 1980, 77 TTC 401; PL 6-82 § 1.
Cross-reference: FSM Const., art. IX, § 2(f) states:
Section 2. The following powers are expressly delegated to Congress:
. . .
(f) to issue and regulate currency;
. . .
The provisions of the Constitution are found in Part I of this code.